Geithner Encouraged, Stocks Advance, Data Improved
A nicely positive day for stocks on the heels of encouraging words from Treasury Secretary Timothy Geithner and improved core economic data. Geithner stated that he sees signs of recovery and nations working in unison to solve the worldwide financial crisis. Existing home sales and factory orders signaled that the worst is over triggering a strong rally in the major indexes. The DJIA surged +152.68 to 7761.60, the tech heavy Nasdaq climbed +23.01 to 1551.60 and the broad based S&P 500 marched ahead +13.21 to 811.08.
Urban Outfitters
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eBay
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CME Group
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Apollo Group
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Oil fell $1.27 to $48.45, Gold added $2.70 to $927.70 and the VIX fear index gave back 4.21% to 42.28 as fear seeps out of the market.
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